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These are investment sukuk
that represent ownership of units of equal value in the Mudaraba equity and
are registered in the names of holders on the basis of undivided ownership
of shares in the Mudaraba equity and its returns according to the percentage
of ownership of share. The owners of such sukuk are the rabbul-mal. (AAOIFI).
Mudarba sukuk are used for enhancing public participation in big investment
projects.
Remark: Sukuk has developed
as one of the most significant mechanisms for raising finance in the
international capital markets through Islamically acceptable structures.
Multinational corporations, sovereign bodies, state corporations and
financial institutions use international sukuk issuance as an alternative to
syndicated financing.
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